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Sep 5, 2024 · When you eventually come to sell your Mexican property, the buyer will pay most of the closing costs, but there are also selling costs and taxes you will need to account for. The three main costs when you’re selling a property in Mexico are: Selling fees; Professional service fees; and. Taxes.
- Real Estate Agent Fees. When listing your home for sale in Mexico, one of the first things you’ll need to consider is hiring a real estate agent. These seasoned experts can help you navigate the complex property selling process and ensure you receive the best possible price.
- Notary Public Fees. In Mexico, a notary public is required to oversee the sale of real estate, ensuring that all necessary documentation is completed and submitted correctly.
- Capital Gains Tax (Impuesto Sobre la Renta) Capital gains tax in Mexico, known as Impuesto Sobre la Renta (ISR), is levied on the profit generated from selling a property.
- Value-Added Tax (IVA) Value Added Tax (IVA) is a sales tax applied to transferring goods and services in Mexico. However, when it comes to selling residential real estate, IVA is not typically used.
3 days ago · The three main costs when you’re selling a property in Mexico are: Selling fees; Professional service fees; and. Taxes. Selling fees.
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Discover the essential costs and taxes when selling property in Mexico. From real estate agent fees to capital gains tax, learn how to navigate the financial aspects of your property sale effectively.
Closing costs in Mexico mostly range between 6% and 8% of the purchase price (although they depend of many factors, some of which will be enunciated in the following paragraph). These fees may seem high but, in the long run, they add up to less money when considering property taxes.
Mar 31, 2024 · In this blog, we'll delve into what sellers should expect to pay when selling a home in Mexico and how having an RFC (Registro Federal de Contribuyentes) can potentially reduce your capital gains tax. Real Estate Agent Commission: In Mexico, real estate agent commissions typically range from 5% to 10% of the property's sale price. While this ...
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May 1, 2024 · All real estate transactions are recorded in Mexican pesos, regardless of whether you negotiated the purchase price and paid for your property in USD or CAD. You must consider the official exchange rates when calculating a gain.